Africa Energy update from Pareto conference

I just listened to Garrett Soden, Africa Energy CEO at Pareto conference. He brought a few new information:

  • he said that the 11B/12B Deposit should be valued “at least at 5USD per barrel”. That is substantially more than the 3-4 USD mentioned in the below article, that lead us to invest in AEC. That means that the value of the deposit is substantially higher. Look at the article below that will guide to make your ow assumptions and valuation. If AEC would sell 11B/12B this year as the CEO repeatedly indicated, the value should be multiple time higher than its current market capitalization. We are long AEC.
  • He also mentioned that the SA Government negotiations should be concluded this year. This is what was the major drag on the share price lately.
  • He also stated, that we should expect positive news flow in the near future on the Block 2B drilling.

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